Military retirement

[Timeisprecious]

Nords,
Thanks for the in depth reply. I do truly appreciate the time for comments. I don't get on here much but just wanted to update on where I stand. Currently 807 days from terminal leave. I have hit my first 1M AFTER TAX! and still have about 180K left to save from pay. So I figure $1.2M minimum if I never invest another dollar. Anything over the 1M (plus what I sell current house for) mark goes to down payment on the retirement house. There will be a lot of gardening! Healthy and lower grocery bill. Plus hunting . I am lucky to be a military retiree and to find this site. I'll keep everyone updated...sporadically

Soon to be retired AF Major!!!

"807 days from terminal leave??" Wow - it's going to seem like FOREVER if you're counting down now! I wouldn't recommend starting the countdown until six months before retirement - it'll go fairly quickly then.

 

[grayv]

Currently 807 days from terminal leave.

.... but who's counting?




are we going to see you in a fed job after a while?

 

[Theoldbreed]

Congratulations! I retired from the Great Green Gun Club in 2004 and then from county Government in 2020. Besides the automatic colas provided by Uncle Sam via Military Retirement and SS, I have a portion of my nest egg invested in dividend paying stocks that have a track record of increasing their dividends over at least the last 20 years. I have been doing this since I was 30 …am 62 now… no complaints! I wish you all the best brother!

 

[G-Man]

Congratulations! I retired from the Great Green Gun Club in 2004 and then from county Government in 2020. Besides the automatic colas provided by Uncle Sam via Military Retirement and SS, I have a portion of my nest egg invested in dividend paying stocks that have a track record of increasing their dividends over at least the last 20 years. I have been doing this since I was 30 …am 62 now… no complaints! I wish you all the best brother!

Is MO "Altria" one of those stocks?

 

[Theoldbreed]

Yes Altria

 

[Theoldbreed]

Also XOM EPD KO NFG UTG

 

[G-Man]

Yes Altria

The dividend has been fantastic over the years.

 

[Theoldbreed]

Yes no complaints…about as close to automatic pilot as you can get!

 

[fisemper]

Well, I haven't been around in a long time, but I just wanted to update. The countdown has been completed!!! As of 1 Sept I am retired from the military. Lucky, the pension is still enough to cover daily needs and have a savings to add to.

Now the good part. The VA, has on their third attempt, rated me 100%! This was a great surprise considering my initial rating was 30%. Add this and my investments and I think it is going to be a good retirement.

I tried a few job interviews but nothing came of them. Now I don't have to worry about that. IF SS is still around in 17 years I'll have that to look forward to. I ain't counting on it and never have!

I'll try to stop in a bit more Appreciate the help I have received from the forum!!

 

[Nords]

Now the good part. The VA, has on their third attempt, rated me 100%! This was a great surprise considering my initial rating was 30%. Add this and my investments and I think it is going to be a good retirement.

Congratulations on getting the VA to compensate for your already paying the price! And my condolences for joining the 100% category.

It looks like you got good help if you were able to persuade the raters after three tries. Ideally DFAS handles everything correctly with your pension, your final military W-2, and your new stream of 1099-Rs over the coming years.

Hopefully you’ve already applied for your VA claims file (your C-file) but let us know if you have questions. The process is straightforward yet tedious. It’s a good help for many years from now when there’s a question about a benefit or the VA correspondence.

If you have’t already looked at your state benefits, you may be eligible for reductions in property taxes, vehicle registrations, and family education benefits. Each state has their own programs and a VSO (or your state Veterans Affairs website) can help sort that out.

 

[WWDog]

After I retired from the military I did 7 more years as a civilian. The money I a crewed during that time was considerable. After that, I converted what was in my 403b to Roth by figuring out what would take me up to the next tax bracket each year until it was all converted. We don't really need that, so it is accumulating tax free for several years and will go to the kids when we are gone. We also make more in retired than we spend and accumulate that money in safe accounts for which ever one of us goes last. Whatever is left over will go to the kids all tax free and the Roth earns for the kids for 10 years or until they convert it. We are very comfortable.

 

[zangbao]

Congrats on the upgraded rating!

Me and my buddy must be the only veterans that were lucky (or unlucky) to have no medical issues when we separated from military. I think I went to sick bay twice in eight years of service.

We still qualified for priority 6 for VA health care so that’s good at least.

 

[Koolau]

Thanks for checking in. Glad things are w*rking out for you. Congratulations!